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Tech, Housewives, and a Sculptor-Turned-CEO: Big Moves in Business & TV!

Lores Replaces Chriss as PayPal CEO After Disappointing Performance

Enrique Lores, current CEO of HP, was appointed as the new CEO of PayPal, replacing Alex Chriss, the company announced Tuesday. The move came after Chriss failed to improve PayPal's share price, which had fallen approximately 80% in the last five years, and after the company predicted lower earnings for 2026, according to Fortune.

PayPal indicated that Chriss's removal was due to unsatisfactory results. "The pace of change and execution was not in line with the board's expectations," the company stated. Chriss, who took over from Dan Schulman in late 2023, had set out a technology-focused vision based around tools like AI and stablecoins, Fortune reported. However, this vision fell short of expectations. The appointment of Lores, who also serves as the board chairman, seemingly did little to reassure the market, according to Fortune.

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This article was generated with AI assistance, synthesizing reporting from multiple credible news sources. Our editorial team reviews AI-generated content for accuracy.

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